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Craig-Marketplace
FinanceGrocery-anchoredInvestment salesNevadaNews

JLL Capital Markets Arranges $41.2 Million Sale, Acquisition Financing for Las Vegas Retail Center

by Katie Sloan

Las Vegas — Gerrity Group has sold Craig Marketplace, a 119,280-square-foot retail center in Las Vegas, for $41.2 million. Gleb Lvovich and Daniel Tyner of JLL Capital Markets represented both Gerrity and the California-based buyer in the 1031-exchange transaction. John Marshall, Jordan Leake and Carl Beardsley, also of JLL, secured acquisition financing on behalf of the buyer. Anchored by Albertsons, the center was 94.5 percent leased at the time of sale to tenants including Jack in the Box, Popeyes Louisiana Kitchen, Starbucks Coffee and Subway.

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FinanceNew YorkNews

Axiom Capital Arranges $13.2 Million Refinancing of Upstate New York Retail Center

by Katie Sloan

East Greenbush, N.Y. — Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The lender was a local bank, and the borrower was an undisclosed development and management firm. 

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Investment salesNewsOhio

Marcus & Millichap Brokers $3.7 Million Sale of Retail Property in Suburban Columbus

by Katie Sloan

Gahanna, Ohio — Marcus & Millichap has brokered the $3.7 million sale of an 8,464-square-foot retail property in the Columbus suburb of Gahanna. The property, which was 85 percent leased at the time of sale, is home to City BBQ and WesBanco Bank. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap brokered the transaction. Both the buyer and seller were private, out-of-state investors. The asset sold at 96 percent of the list price, which equates to a cap rate of 6.5 percent.

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LeasingNewsTexas

Northern Tool, AutoZone Sign Retail Leases Totaling 39,357 Square Feet Near Dallas

by Katie Sloan

McKinney, Texas — Northern Tool + Equipment and AutoZone have signed retail leases totaling 39,357 square feet in McKinney, about 35 miles northeast of Dallas. The tenants will backfill a space previously occupied by Super 1 Foods with footprints of 22,500 and 16,857 square feet, respectively. William Rosatti represented the landlord, JAH Realty, in the lease negotiations on an internal basis. Clay Mote of Retail Union and Mack House of Westover Group represented Northern Tool and AutoZone, respectively.

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Greenfield-Market
IndianaInvestment salesNews

Hanley Investment Group Arranges Sale of Three Quick-Service Restaurants in Metro Indianapolis

by Hayden Spiess

Greenfield, Ind. — Dylan Mallory of Hanley Investment Group Real Estate Advisors, in collaboration with Jacque Haynes of Midland Atlantic Properties, has orchestrated the sales of three retail properties located in Greenfield, approximately 25 miles east of downtown Indianapolis. All located on North State Street as part of the Greenfield Market development, the properties were acquired by separate 1031-exchange buyers in transactions totaling more than $9 million. Indianapolis-based Midland Atlantic Properties was the seller. The properties included a 2,616-square-foot Chipotle Mexican Grill, a 3,500-square-foot Panera Bread and a 4,500-square-foot Chick-fil-A. …

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Grocery-anchoredInvestment salesKansasNews

Blue West Capital Arranges $9 Million Sale of Grocery-Anchored Shopping Center in Central Kansas

by Hayden Spiess

Salina, Kan. — Blue West Capital has arranged the $9 million sale of Sunset Plaza in Salina, a city in central Kansas located roughly 100 miles north of Wichita. Dillons, a division of Kroger, anchors the 126,606-square-foot shopping center. The Dillons store was remodeled in 2019, and a fuel center was added in 2020. Originally constructed in 1960, Sunset Plaza was nearly fully leased at the time of sale. Robert Edwards, Zach Wright and Shawn Dickmann of Blue West Capital represented the seller, a Kansas-based private equity real estate company. …

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Plaza-Northwest
ColoradoInvestment salesNews

JLL Capital Markets Arranges $6.4 Million Sale of Retail Center in Suburban Denver

by Hayden Spiess

Westminster, Colo. — Plaza Northwest, a 27,405-square-foot retail center located in Westminster, roughly 11 miles northwest of Denver. Jason Schmidt of JLL Capital Markets represented the seller, Centre Point Properties, in the transaction. Park Meadows Real Estate LLC acquired the property, which was 94 percent leased at the time of sale. Tenants include Rocky Mountain Urgent Care, 303 Training Center, Hot Pho, T Love Nails, Empire Fitness, One Main Financial, State Farm, Partners in Health and Connie’s Antiques.

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Grocery-anchoredInvestment salesNewsNorth Carolina

ShopOne Acquires 40,000-Square-Foot Shopping Center in Metro Raleigh

by Hayden Spiess

Cary, N.C. — ShopOne Centers REIT Inc., in a joint venture with Pantheon and an undisclosed institutional investor, has acquired Shoppes on the Parkway in Cary, about ten miles west of downtown Raleigh. The Fresh Market anchors the 40,000-square-foot center, which was 96 percent leased at the time of sale. The transaction marks the first acquisition by the joint venture.

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LeasingNewsTexas

Northwood Retail Adds Five New Tenants to Prestonwood Place in Metro Dallas

by Hayden Spiess

Addison, Texas — Northwood Retail has added five new tenants to Prestonwood Place, a 107,000-square-foot center located in the northern Dallas suburb of Addison. One Medical, a membership-based primary care practice, is now open, and Loro Asian Smokehouse & Bar will open later this year. Two other food-and-beverage concepts, Thai restaurant Asian Mint and fast-casual eatery Sweetgreen, are also scheduled to launch before year’s end. Buff City Soap will open its store in 2023.      

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Lakeport-Commons
Investment salesIowaNews

JLL Arranges $27.5 Million Sale of 202,880-Square-Foot Shopping Center in Sioux City, Iowa

by Hayden Spiess

Sioux City, Iowa — JLL Capital Markets has arranged the $27.5 million sale of Lakeport Commons, a 202, 880-square-foot shopping center located in Sioux City. Amy Sands, Clinton Mitchell, Michael Nieder, and Marcus Pitts of JLL represented the seller, The RH Johnson Co. The center was 95 percent occupied at the time of sale by tenants including Aldi, Ross Dress for Less, Five Below, Old Navy, PetSmart, Michaels, Boot Barn, Shoe Carnival and Staples. The property is also home to a separately owned Kohl’s, which was not included in the …

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